BitMEX sees $85 million outflow: CFTC review among reason

Posted 22 July, 2019

The service that tracks movements of funds among cryptocurrency exchanges and wallets TokenAnalyst reported massive withdrawal from BitMEX over a day.

The service posted a report on its Twitter on July 20 that platform's users withdrew $85 million from the exchange over a day, compared to $54 and $50 million from Binance and Bitstamp respectively. At the same time, the data showed that Binance and Bitstamp almost fully covered the withdrawals with income deposits, while deposits at BitMEX were just$12 million.

Some market players believe that this situation can be connected with the recent legal proceeding that was launched against the platform.

For reference, the US Commodities Futures Trading Commission reportedly launched an investigation into BitMEX striving to clarify whether the platform provided services to US-based traders violating the rules.

 At the same time, the well-known crypto and securities legal expert Jake Chervinsky said on the Twitter that the players should not pile on the agony over "a routeing" government activities. 

He added: 

"Public overreacts & assumes the worst, while in reality investigations often result in no changes at all." 

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22 July, 2019 16:14

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